10 Restaurants that Announced Closures in 2024
As American taste buds change and operational costs rise, some chain restaurants are struggling to stay afloat. Interest in sit-down meals has waned (grocery delivery or takeout, anyone?) and that led to restaurants that announced closures in 2024.
Here are 10 well-known dining spots that are trimming down their number of locations and the reasons behind their decline.
1. Denny’s
Denny’s is known for its all-day breakfast, but even the promise of omelets at any hour hasn’t been enough to keep the 71-year-old diner afloat. The chain announced plans to close 150 locations by 2025 as part of a business revival plan. Half of those closures took place in 2024. The remaining closures are on the horizon, representing about 10% of Denny’s locations total. Denny’s leadership cited a lack of consumer demand and inflation as key contributors to the decline.
2. Hooters
Even if you haven’t eaten there, most people recognize the name Hooters and its business model. The restaurant known for bar food served by employees in signature outfits closed dozens of locations this year. It closed a “select number of underperforming stores” in states such as Florida, Kentucky and North Carolina.
3. Buca di Beppo
Buca di Beppo filed for Chapter 11 bankruptcy in 2024, citing a decline in customer demand and post-pandemic losses. The Italian restaurant chain experienced a 10% drop in revenue in 2024 and has over $10 million in debt (including $1.36 million in unredeemed gift cards). Its future still remains unknown; it closed 18 underperforming locations in 2024. We may be waiving ciao to Buca di Beppo in 2025 if things don’t turn around.
4. TGI Fridays
The pandemic wasn’t kind to TGI Fridays. The chain filed for Chapter 11 bankruptcy in November 2024 and quietly closed about 50 locations just before doing so. TGI Fridays cited $37 million in debt and just $5.9 million in cash. That’s a pretty big decline for an operation that used to generate $2 billion in annual revenue. The American casual chain restaurant is working to make its restructuring plan work in 2025, but you might want to use up any gift cards just in case.
5. MOD Pizza
Established in 2008, MOD Pizza serves build-your-own pizzas (hence the acronym: Made on Demand). However, demand has been anything but hot lately for the fast-casual restaurant chain. In 2024, MOD closed 44 locations and faced lots of speculation over whether a bankruptcy filing was imminent. Elite Restaurant Group swooped in and acquired MOD in late 2024. Elite is working to refresh the brand and right size its portfolio, so there’s still some hope for a comeback.
6. Rubio’s Coastal Grill
Rubio’s Coastal Grill is a Mexican fast-casual spot that is known for its fish tacos. But it seems like the vibes are off for consumers, as the Californian chain filed for Chapter 11 bankruptcy protection in June 2024. This was its second bankruptcy after a pandemic-influenced filing in 2020.
Rubio’s had 196 restaurants by the end of 2016, but it has already closed down 50 locations as of this year. The chain is seeking a new investor to keep things running. But unless a successful restructuring plan emerges, the end may be near for this chain.
7. World of Beer
Even beer brands are feeling the pinch of inflation, labor shortages and changing consumer tastes. World of Beer has struggled to recover from the pandemic and filed for Chapter 11 bankruptcy protection in 2024. It has closed 14 locations in 12 months and now has 33 locations left. That’s a pretty rough patch for what was once one of the country’s fastest-growing taverns. So, if you like having your pick of beers on tap, you might want to head out to WOB before it shuts its doors.
8. Sticky’s Finger Joint
Having 16 dipping sauces to choose from might not be enough to save the chicken tender chain Sticky’s Finger Joint. From losing foot traffic to ruffling feathers in legal disputes over a broken lease and its name, Sticky’s is struggling to stay the New York City and New Jersey hotspot it once was. It filed for Chapter 11 bankruptcy protection in April 2024 and closed four locations. That’s a pretty surprising turn of events, considering the company grew sales from $500,000 in 2013 to $22 million in 2023.
9. Tijuana Flats
Tijuana Flats opened in 1995 as a Florida-based Tex-Mex chain. The fast-casual spot was sold to private equity in 2015, but ended up filing for bankruptcy in 2024. Since then, it has closed 11 restaurants. What’s next for Tijuana Flats is yet to be seen as they were sold to Flatheads LLC in 2024 as well. We can expect to see the funky restaurant brand try to reinvent itself, but will it be enough to bring in more customers?
10. BurgerFi
BurgerFi opened in 2011 in Fort Lauderdale, Florida. Over the last decade, it’s become synonymous with better burgers and antibiotic-free beef. However, that hasn’t been enough to withstand economic headwinds. BurgerFi International Inc. filed for Chapter 11 bankruptcy protection in September 2024. They’ve closed 19 locations, citing declining sales, high employee turnover and an outdated menu. There are 144 locations that remain open, and the brand remains optimistic about turning things around. We’ll see if its efforts are enough to revive the brand in 2025.
These restaurants that announced closures this year could be in for a rough 2025, but let’s hope they figure out how to stay afloat in the coming year. And if you read through this list because you dine out regularly, check out these savvy ways to save on the bill.
